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SAS Receives Access to $361 Million Credit Line From Shareholders, Governments of Denmark and Sweden

With support from major shareholders and the Governments of Denmark and Sweden, SAS has received access to a SEK 3.0 billion (US $360.6 million) line of credit. The credit line will be structured pursuant to the EU’s rules for state aid.

SAS to Receive Access to SEK 3.0 Billion Credit Line With Support From Major Shareholders and the Governments of Denmark and Sweden - Courtesy SAS

On Wednesday (May 26, 2021), SAS announced that with support from major shareholders and the governments of Denmark and Sweden, the carrier with receive access to a SEK 3.0 billion (US $360.6 million) credit line, subject to compliance with the EU’s rules for state aid. The low level of demand over an extended period and current market conditions have made it difficult to predict how the critical summer season will develop, especially as customers are increasingly booking flights on short notice. The line of credit will bolster the carrier’s liquidity as they navigate the ongoing uncertainty related to the global COVID-19 pandemic and the post-pandemic period.

SAS is the leading airline in Scandinavia, normally carrying over 30 million passengers annually from its main hubs in Copenhagen, Oslo and Stockholm to 125 destinations in Europe, the US and Asia (pre-pandemic figures). The company has targeted a reduction in carbon emissions by 25 percent by 2025 compared to 2005 levels and hopes to transition to 100% biofuel for domestic flights by 2030. SAS also offers ground handling services, technical maintenance and cargo services. The carrier is a founding member of the Star Alliance, which offers an extensive global network.

Source: SAS


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